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US 10YR FUTURE TECHS: (U4) Monitoring Support

US 10YR FUTURE TECHS
  • RES 4: 111-31   1.382 proj of the Apr 25 - May 16 - 29 price swing 
  • RES 3: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing 
  • RES 2: 111-13   High Jun 25 / High Mar 25
  • RES 1: 110-25/111-01   High Jun 14 and the bull trigger 
  • PRICE:‌‌ 110-01 @ 16:46 BST Jun 28
  • SUP 1: 109-26+/109-00+ 50-day EMA / Low Jun 10 and key support 
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-16   Trendline drawn from the Apr low    
  • SUP 4: 107-31   Low May 29 and a key support

A bull cycle in Treasuries remains in play and this week’s move lower is considered corrective - including the late pressure on Friday. Attention is on a firm short-term support at 109-26+, the 50-day EMA. A clear break of this average would signal scope for a deeper retracement, towards 109-00+, the Jun 10 low. For bulls, a resumption of gains and a break of 111-01, the Jun 14 high, would resume the uptrend and open 111-17+, a Fibonacci projection. 

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